BJ’s Wholesale Club has its eye on the fresh grocery sector and is making moves to expand and improve its grocery offerings to be a competitor in the market. The news first broke after Chairman and Chief Executive Officer Christopher J. Baldwin revealed the wholesaler's plans in its first quarter fiscal 2019 results.
“The next place we're going is grocery… We've done changes to health and beauty and the next place to go is grocery…We feel really proud of the progress we've made in perishables with produce units growing,” Baldwin said on an earnings call with investors. “Our grocery and perishables business are key to delivering value to our members."
Baldwin also noted that membership levels are at “historic highs” as new members and renewals continue to increase. This, along with low prices and new-and-improved grocery services, is positioning BJ’s for steady growth, according to Baldwin.
According to a press release, additional highlights from the first quarter of 2019 included the following:
“We are pleased with our solid start to the year,” said Baldwin. "We delivered merchandise comparable sales of 1.9%, improved margins and continued to grow earnings by executing against our strategic priorities. Looking forward, we continue to see momentum across our business and are encouraged by the opportunities ahead of us, as we continue to transform BJ's Wholesale Club."
BJ's also announced it has appointed Robert Steele as its new Lead Independent Director.
“His extensive experience and knowledge of our industry and business will be invaluable to our company,” Baldwin concluded.
To read the press release in its entirety, click here.
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